One simple process will lead you into another. It’s like finding a penny on the sidewalk bending over picking it up putting it in your pocket then depositing it into a jar at home on your counter. This one simple self-discipline could potentially yield you a large sum of change by the end of the year. It’s a simple procedure. Every time you are given coin change in return for purchases, you put them into the jar at home on the counter. This is simple self-discipline. It’s a routine. A routine you can develop into a habit. Kathryn Goetzke in her article “How Long Does it Take an Action to Become a Habit; 21, 28, or 66 Days?” states “the well established rule on habits is 21-28 days [however] the UK Health Behaviore Research Centre recently came out with research that found it took 66 days to form a habit.” Furthermore she goes on to say, she believes this latest research is correct because “if you can do something for 66 days straight, we can do it for a year, five or thirty.”
Really its that simple, once you have set the ball to saving in motion you just have to keep at it day in and day out until its been built into the system. But what if you are the type of person who gets 21 or 28 days into the cycle and you begin to question your idea or you become unable to stick to it? Then what? What is it that can help you accomplish your money saving habits?
In the article “The Paradox of Self-Discipline” Eric Nehrlich discusses how behavior is a paradox relative to making conscious decisions. “It seems to me that the bad behaviors like TV and junk food are always lurking in temptation for me, and the good behaviors like hitting the gym, [saving money] and writing blog posts require self-discipline.” His article talks about how our minds become overloaded and simple mundane tasks take precedent over strong conscious decisions. Even though these bad behaviors become stuck in our thoughts he explains “another weapon I have is simply self-awareness. If I consciously remind myself that I’m making bad decisions when I’m overloaded, it will hopefully make me question those decisions as I’m making them.”
This is awesome news, we’ve just learned how to evolve as a person and gain self-discipline and self-awareness in order to build a better routine on saving money. But what if you don’t make it to day number 66? What do you do? How can you save money without all these weapons? There has to be another way? Something simpler you can take part in? But what is it?
Let these simple solutions help you build a better savings without having to deal with self-discipline.
- Join an automated savings plan like ING Direct Savings It’s fast, simple and easy to begin. Start by signing up for a free account on their website. Next send in a check with your account ID number and an opening balance amount. Then set up daily, weekly, bi-weekly or monthly transactions will automatically withdraw your savings for you. Never again think about saving money. Just remember to keep your checking balance full.
- Automate your finances. This is similar to the above. But you set up accounts for everything you have in your life. An account for personal payment, water, sewage, cell phone, car, insurance, rent, groceries, emergencies and retirement. Then every time your paycheck is deposited your transactions will be cyber transferred from one account to the next paying everything and everyone. All you need to do is keep your job and those paychecks coming into your main account.
- Control your environment instead of yourself by possessing successful money management techniques says Abhishek Agarwal and follow his four techniques to save money.
- Realize that saving is the most effective method to build one’s wealth
- The only useful material to save is money
- Be focused only on the things you need at the moment
- Never buy on impulse. Take your time while spending on items
- The most obvious cause for financial drain is credit card debts
- Be controlled by using credit cards less